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FirstGroup Posts Wider Loss In H1; Revenue Up 6.9% - Quick Facts

FirstGroup plc (FGROY.PK,FGROF.PK,FGP.L), a provider of transport services in North America and the UK, reported a loss before tax of 187.1 million pounds for the six months to 30 September 2019 compared to a loss of 4.6 million pounds, prior year. Loss per share widened to 14.3 pence from a loss of 0.6 pence. Statutory loss before tax and reported per share results in the first half includes charges for Greyhound impairment and North American self-insurance. Adjusted profit before tax declined to 28.7 million pounds from 42.0 million pounds. Adjusted earnings per share was 2.0 pence compared to 2.9 pence. The Group said the reduction in adjusted results mainly reflect first time adoption of IFRS 16 lease accounting.

For the first-half, revenue from continuing operations improved to 3.53 billion pounds from 3.30 billion pounds, previous year.

Looking forward, the Group said its full year outlook remains unchanged (before the effects of IFRS 16).

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